A global recession is on the horizon - please read OP for mod warning

Very nervous of taking debt now to buy a house…already seeing slowdown in market in terms of spending by clients and also interest rates bound to stay stagnant…rather wait and watch then plunge into debt !

Inflation is here to stay as fuel prices go above €2 per L ! I see grocery prices rising week after week although EU says inflation has gone down !

Yes but in a growing economy😃..inflation is not normal for europe and slowdown is real..growing economies have inflation and its pretty normal ! Funds which can be used to buy a home bow can be deployed elsewhere too for risk free returns !

The EU is still the 3rd largest economy in the world and has the same clout as USA and China. The only reason tech is doing well in Ireland is because it’s the gateway to the European market. Most of the tech companies are none European so it’s not like an indigenous company exporting.

The other major benefit is that the Euro is the 2nd most important currency internationally with only the USD being more important which is no surprise as it’s the reserve currency of the world due to all commodities and currencies priced of it.

Finally the wealth in Europe that exists for historical reasons means it’s a power house in the financial markets something that takes a very long time to establish and something China and India wish they had but don’t because of a lack of confidence by its own citizens who will exchange there currency wherever possible whether that is buying foreign assets or currency.

Europe is no different to USA or China when it comes to dependency on fossil fuels. So I can’t see why you single out the Euro especially when you take into account the North sea reserves and the fact China is heavily dependent on Coal.

As with the history of industrialisation energy sources change and adapt.

water mills ——> Steam power —-> ICE —-> Renewables

Most of the research is undertaken by USA and Europe which means the next major change will likely be adopted by these countries first. I would be more concerned about an aging population than dwindling energy sources.

You are getting ahead of yourself there. This thread is about recession which can’t be predicted (this thread is the proof of that) but you even go a step further and predict the end of western civilisation.

...i wonder would power storage resolve some of these issues! france isnt winding down its nuclear, fossil fuels are gonna be here for another while, relax!

Hydro power storage might be worth pursuing but the battery storage at present seems costly and insufficient. A scheme such as load spreading via home solar panels/ E cars might be worth pursuing but still in winter, we're still going to have days where a large fossil/ nuclear delivery is required. It seems pie in the sky the position put forward.

AFAIK, we're heading to a cliff edge with no brake. 47 years of oil left at current consumption.

hydro looks like a non runner for ireland, we just dont have the terrain, battery does have its issues, but its where its heading, we ve spent centuries building energy networks based on fossil fuels, we re gonna struggle to move away from this, but its happening, and thankfully so, yes its gonna be unbelievably expensive, and difficult, but not doing so is far more dangerous than not, then of course theres hydrogen, largely untested on a macro scale, but its looking very promising.....

yea we need really work on load spreading across private dwellings, but that ll probably eventually happen to, but there is a lot of work to do there, property owners definitely need to be properly compensated for the use of their property and the use of their equipment....

theres actually an enormous amount of work to be done here, which means theres an astonishing amount of business opportunities now being made available from this transition, i think we can do this, but we do need to switch off the fossil fuels quickly, wont be easy though, there will be many failures a long the way, but its clearly obvious now, if we dont do this, younger generations, ie, your kids and grandkids etc, will be fcuked....

...we may have 50 years of oil left, but if we burn all that, those younger generations probably wont have any functioning planet left to live on, so......

So do I. I recall paying 14.5% interest rate on my mortgage. And the various taxes on income were about 75% - which you paid on very low incomes.

They really were desperate times.

...again, the differences are incomparable, yes rates were off the walls in the 80's, but when you compare average incomes and the average price of assets such as property between generations, you start to see the problems, purchasing a home was extremely difficult in the 80's, but doable for many, theres was also some element of social housing available, but now.....

ah i beg to differ, the 80's were dreadful for many, poverty levels were much higher, unemployment to, far less life options for many, its was pretty sh1tty times, but definitely far simpler, but we have advanced, we re a far more advanced economy and society to, far better educated, so we have far more opportunities, if we could resolve major problems such as housing and health care, well add in transport infrastructure to, we d be on the pigs back....but yea, younger generations are in serious trouble at the moment, which really means we re all in serious trouble...

Janet Yellen conceded the oil price cap is not working over the weekend. It was doomed from the start, instead of keeping the same levels of oil flowing and capping the price, it has only resulted in less oil flowing and prices higher because of it.

Also bloomberg calling for it to be scrapped due to it's failure and risks of a possible enviromental disaster.